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Global Digital Remittance Market Size, Status and Forecast 2025

Global Digital Remittance Market Size, Status and Forecast 2025

This report studies the Digital Remittance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Digital Remittance market by product and Application/end industries.

Digital remittances have the potential to engender positive development outcomes. The pure feebased cost savings that result from digital remittances could have a significant impact on immigrant workers, as well as families back home.

Beyond the pure fee costs, important time, reach, and security benefits accrue from digital remittances. The cost savings from digital remittances could be a meaningful boost to global GDP and have a noteworthy impact on poverty. In order for all of these positive developments to be realized, and enabling environment for digital remittances must be created.

Identity, connectivity, banking, and literacy solutions for all must be developed by the public and private sectors in collaboration. With the current refugee crisis, the time is ripe for digital remittances to provide enhanced economic opportunity for those that need it most.

In 2017, the global Digital Remittance Market Size was valued at 1536 million USD, and it will reach 8590 million USD in 2025, with a CAGR of 23.3% between 2018 and 2025.
According to the data from WorldBank, India is the largest country of Migrant remittance inflows, with 68968 million USD and percentage of 11.2% in the world. China, Philippines, Mexico, France, Nigeria, Pakistan, Germany, Vietnam and Bangladesh, also are top players which receive significant amounts of remittance volume.

Migrant labor workforce is the most important drivers to promote the global development. In future, the blockchain technology will exert far-reaching influence on the remittance market. Most of traditional bank, fintech and other financial firms have researched and tested the blockchain technology used in remittance volume. In the same time, some companies like Ant Financial/Alipay, Coins.ph, Auxesis, Bitspark, Rebit and Cashaa, have introduced their products in remittance.

Currently, the global Digital Remittance market is dominated by several traditional global money transfer operators (MTOs) like Western Union (WU), Ria Financial Services and MoneyGram. But the fintech like start-ups Xoom, TransferWise, WorldRemit, Remitly and Azimo, have significant impact on the global Digital Remittance market.

The major players in global market include
Western Union (WU)
Ria Financial Services
PayPal/Xoom
TransferWise
WorldRemit
MoneyGram
Remitly
Azimo
TransferGo
InstaReM
TNG Wallet
Coins.ph
Toast
OrbitRemit
Smiles/Digital Wallet Corporation
Avenues India Pvt Ltd
FlyRemit
WeChat Payment
Ant Financial/Alipay

Geographically, this report split global into several key Regions, with, revenue (million USD), market share and growth rate of Digital Remittance for these regions, from 2013 to 2025 (forecast)
United States
Europe
Middle East & Africa
China
India
Southeast Asia

On the basis of product, the Digital Remittance market is primarily split into
Banks Digital Remittance
Digital Money Transfer Operators

On the basis on the end users/Application, this report covers
Migrant Labor Workforce
Study Abroad and Travel
Small Businesses


1 Industry Overview
1.1 Digital Remittance Market Overview
1.1.1 Digital Remittance Product Scope
1.1.2 Market Status and Outlook
1.2 Global Digital Remittance Market Size and Analysis by Regions (2013-2018)
1.2.1 United States Digital Remittance Market Status and Outlook
1.2.2 Europe Digital Remittance Market Status and Outlook
1.2.3 Middle East & Africa Digital Remittance Market Status and Outlook
1.2.4 China Digital Remittance Market Status and Outlook
1.2.5 India Digital Remittance Market Status and Outlook
1.2.6 Southeast Asia Digital Remittance Market Status and Outlook
1.3 Classification of Digital Remittance by Product
1.3.1 Global Digital Remittance Revenue (Million USD) and Growth (%) Comparison by Product (2013-2025)
1.3.2 Global Digital Remittance Revenue (Million USD) Market Share (%) by Product in 2017
1.3.3 Bank Digital Remittance
1.3.4 Digital Money Transfer Operators
1.4 Digital Remittance Market by End Users/Application
1.4.1 Migrant Labor Workforce
1.4.2 Study Abroad and Travel
1.4.3 Small Businesses
2 Global Digital Remittance Competition Analysis by Players
2.1 Global Digital Remittance Market Size (Million USD) by Players (2013-2018)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Mergers & Acquisitions, Expansion
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles and Key Data
3.1 Western Union (WU)
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Western Union (WU) Digital Remittance Revenue (Million USD) (2013-2018)
3.2 Ria Financial Services
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Ria Financial Services Digital Remittance Revenue (Million USD) (2013-2018)
3.3 PayPal/Xoom
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
3.3.3 Products, Services and Solutions
3.3.4 PayPal/Xoom Digital Remittance Revenue (Million USD) (2013-2018)
3.4 TransferWise
3.4.1 Company Profile
3.4.2 Main Business/Business Overview
3.4.3 Products, Services and Solutions
3.4.4 TransferWise Digital Remittance Revenue (Million USD) (2013-2018)
3.5 WorldRemit
3.5.1 Company Profile
3.5.2 Main Business/Business Overview
3.5.3 Products, Services and Solutions
3.5.4 WorldRemit Digital Remittance Revenue (Million USD) (2013-2018)
3.6 MoneyGram
3.6.1 Company Profile
3.6.2 Main Business/Business Overview
3.6.3 Products, Services and Solutions
3.6.4 MoneyGram Digital Remittance Revenue (Million USD) (2013-2018)
3.7 Remitly
3.7.1 Company Profile
3.7.2 Main Business/Business Overview
3.7.3 Products, Services and Solutions
3.7.4 Remitly Digital Remittance Revenue (Million USD) (2013-2018)
3.8 Azimo
3.8.1 Company Profile
3.8.2 Main Business/Business Overview
3.8.3 Products, Services and Solutions
3.8.4 Azimo Digital Remittance Revenue (Million USD) (2013-2018)
3.9 TransferGo
3.9.1 Company Profile
3.9.2 Main Business/Business Overview
3.9.3 Products, Services and Solutions
3.9.4 TransferGo Digital Remittance Revenue (Million USD) (2013-2018)
3.10 InstaReM
3.10.1 Company Profile
3.10.2 Main Business/Business Overview
3.10.3 Products, Services and Solutions
3.10.4 InstaReM Digital Remittance Revenue (Million USD) (2013-2018)
3.11 TNG Wallet
3.11.1 Company Profile
3.11.2 Main Business/Business Overview
3.11.3 Products, Services and Solutions
3.11.4 TNG Wallet Digital Remittance Revenue (Million USD) (2013-2018)
3.12 Coins.ph
3.12.1 Company Profile
3.12.2 Main Business/Business Overview
3.12.3 Products, Services and Solutions
3.12.4 Coins.ph Digital Remittance Revenue (Million USD) (2013-2018)
3.13 Toast
3.13.1 Company Profile
3.13.2 Main Business/Business Overview
3.13.3 Products, Services and Solutions
3.13.4 Toast Digital Remittance Revenue (Million USD) (2013-2018)
3.14 OrbitRemit
3.14.1 Company Profile
3.14.2 Main Business/Business Overview
3.14.3 Products, Services and Solutions
3.14.4 OrbitRemit Digital Remittance Revenue (Million USD) (2013-2018)
3.15 Smiles/Digital Wallet Corporation
3.15.1 Company Profile
3.15.2 Main Business/Business Overview
3.15.3 Products, Services and Solutions
3.15.4 Smiles/Digital Wallet Corporation Digital Remittance Revenue (Million USD) (2013-2018)
3.16 Avenues India Pvt Ltd
3.16.1 Company Profile
3.16.2 Main Business/Business Overview
3.16.3 Products, Services and Solutions
3.16.4 Avenues India Pvt Ltd Digital Remittance Revenue (Million USD) (2013-2018)
3.17 FlyRemit
3.17.1 Company Profile
3.17.2 Main Business/Business Overview
3.17.3 Products, Services and Solutions
3.17.4 FlyRemit Digital Remittance Revenue (Million USD) (2013-2018)
3.18 WeChat Payment
3.18.1 Company Profile
3.18.2 Main Business/Business Overview
3.18.3 Products, Services and Solutions
3.19 Ant Financial/Alipay
3.19.1 Company Profile
3.19.2 Main Business/Business Overview
3.19.3 Products, Services and Solutions
4 Global Digital Remittance Market Size by Product and Application (2013-2018)
4.1 Global Digital Remittance Market Size by Product (2013-2018)
4.2 Global Digital Remittance Market Size by Application (2013-2018)
4.3 Top End Users of Digital Remittance
5 United States Digital Remittance Development Status and Outlook
5.1 United States Digital Remittance Market Size (2013-2018)
5.2 United States Digital Remittance Revenue and Market Share by Players (2013-2018)
5.3 United States Digital Remittance Market Size by Application (2013-2018)
6 Europe Digital Remittance Development Status and Outlook
6.1 Europe Digital Remittance Market Size (2013-2018)
6.2 Europe Digital Remittance Revenue and Market Share by Players (2013-2018)
6.3 Europe Digital Remittance Market Size by Application (2013-2018)
7 Middle East & Africa Digital Remittance Development Status and Outlook
7.1 Middle East & Africa Digital Remittance Market Size (2013-2018)
7.2 Middle East & Africa Digital Remittance Market Size by Application (2013-2018)
8 China Digital Remittance Development Status and Outlook
8.1 China Digital Remittance Market Size and Forecast (2013-2018)
8.2 China Digital Remittance Market Size by Application (2013-2018)
9 India Digital Remittance Development Status and Outlook
9.1 India Digital Remittance Market Size and Forecast (2013-2018)
9.2 India Digital Remittance Revenue and Market Share by Players (2013-2018)
9.3 India Digital Remittance Market Size by Application (2013-2018)
10 Southeast Asia Digital Remittance Development Status and Outlook
10.1 Southeast Asia Digital Remittance Market Size and Forecast (2013-2018)
10.2 Southeast Asia Digital Remittance Revenue and Market Share by Players (2013-2018)
10.3 Southeast Asia Digital Remittance Market Size by Application (2013-2018)
11 Market Forecast by Regions, Product and Application (2018-2025)
11.1 Global Digital Remittance Market Size (Million USD) by Regions (2018-2025)
11.1.1 United States Digital Remittance Revenue and Growth Rate (2018-2025)
11.1.2 Europe Digital Remittance Revenue and Growth Rate (2018-2025)
11.1.3 China Digital Remittance Revenue and Growth Rate (2018-2025)
11.1.4 Middle East & Africa Digital Remittance Revenue and Growth Rate (2018-2025)
11.1.5 Southeast Asia Digital Remittance Revenue and Growth Rate (2018-2025)
11.1.6 India Digital Remittance Revenue and Growth Rate (2018-2025)
11.2 Global Digital Remittance Market Size by Application (2018-2025)
11.3 Global Digital Remittance Market Size by Product (2018-2025)
12 Digital Remittance Market Dynamics
12.1 Digital Remittance Market Opportunities
12.1.1 High Cost of Traditional Remittance
12.1.2 So Far Fintech Has Made Almost No Impact on Cost of Remittances
12.2 Digital Remittance Challenge and Risk
12.3 Digital Remittance Market Constraints and Threat
12.3.1 Threat from Substitute
12.3.2 Government Policy
12.3.3 Technology Risks
12.4 Digital Remittance Market Driving Force
12.4.1 Growing Demand from Emerging Markets
12.4.2 Driving Force
13 Market Effect Factors Analysis
13.1 SWOT Analysis of Digital Remittance
13.2 Digital Remittance Market Driving Force
13.2.1 Market Drivers
13.2.2 Industry Trends
13.3 External Environmental Change
14 Research Finding /Conclusion
15 Methodology and Data Source
15.1 Methodology/Research Approach
15.1.1 Research Programs/Design
15.1.2 Market Size Estimation
15.1.3 Market Breakdown and Data Triangulation
15.2 Data Source
15.2.1 Secondary Sources
15.2.2 Primary Sources
15.3 Disclaimer
15.4 Author List
List of Tables and Figures
Table Key Digital Remittance Companies Covered in this Report
Figure Global Digital Remittance Market Size (Million USD) Status and Outlook (2013-2025)
Table Global Market Digital Remittance Revenue (Million USD) Comparison by Regions 2013-2025
Figure Global Digital Remittance Market Share by Regions (2013-2018)
Figure United States Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure Europe Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure Middle East & Africa Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure China Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure India Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure Southeast Asia Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Table Global Digital Remittance Revenue (Million USD) and Growth Rate (%) Comparison by Product (2013-2025)
Figure Global Digital Remittance Revenue Market Share (%) by Product in 2017
Figure Bank Digital Remittance Market Size (Million USD) and Growth Rate (2013-2018)
Figure Digital Money Transfer Operators Market Size (Million USD) and Growth Rate (2013-2018)
Table Global Digital Remittance Market Size (Million USD) Comparison by Application (2013-2025)
Figure Global Digital Remittance Market Share by Application in 2017
Figure Digital Remittance Market Size (Million USD) and Growth Rate in Migrant Labor Workforce (2013-2018)
Figure Digital Remittance Market Size (Million USD) and Growth Rate in Study Abroad and Travel (2013-2018)
Figure Digital Remittance Market Size (Million USD) and Growth Rate in Small Businesses (2013-2018)
Table Global Digital Remittance Revenue (Million USD) by Players (2013-2018)
Table Global Digital Remittance Revenue Market Share (%) by Players (2013-2018)
Figure Global Digital Remittance Market Size Share by Players in 2017
Figure Digital Remittance Market Share (%) of Top 3 Players
Figure Digital Remittance Market Share (%) of Top 5 Players
Table Mergers & Acquisitions, Expansions of Digital Remittance (2013-2018)
Table New Entrants of Digital Remittance (2013-2018)
Table Western Union (WU) Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Western Union (WU) (2013-2018)
Figure Western Union (WU) Digital Remittance Business Revenue Growth Rate
Figure Western Union (WU) Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Ria Financial Services Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Ria Financial Services (2013-2018)
Figure Ria Financial Services Digital Remittance Business Revenue Growth Rate
Figure Ria Financial Services Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table PayPal/Xoom Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of PayPal/Xoom (2013-2018)
Figure PayPal/Xoom Digital Remittance Business Revenue Growth Rate
Figure PayPal/Xoom Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table TransferWise Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of TransferWise (2013-2018)
Figure TransferWise Digital Remittance Business Revenue Growth Rate
Figure TransferWise Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table WorldRemit Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of WorldRemit (2013-2018)
Figure WorldRemit Digital Remittance Business Revenue Growth Rate
Figure WorldRemit Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table MoneyGram Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of MoneyGram (2013-2018)
Figure MoneyGram Digital Remittance Business Revenue Growth Rate
Figure MoneyGram Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Remitly Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Remitly (2013-2018)
Figure Remitly Digital Remittance Business Revenue Growth Rate
Figure Remitly Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Azimo Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Azimo (2013-2018)
Figure Azimo Digital Remittance Business Revenue Growth Rate
Figure Azimo Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table TransferGo Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of TransferGo (2013-2018)
Figure TransferGo Digital Remittance Business Revenue Growth Rate
Figure TransferGo Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table InstaReM Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of InstaReM (2013-2018)
Figure InstaReM Digital Remittance Business Revenue Growth Rate
Figure InstaReM Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table TNG Wallet Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of TNG Wallet (2013-2018)
Figure TNG Wallet Digital Remittance Business Revenue Growth Rate
Figure TNG Wallet Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Coins.ph Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Coins.ph (2013-2018)
Figure Coins.ph Digital Remittance Business Revenue Growth Rate
Figure Coins.ph Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Toast Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Toast (2013-2018)
Figure Toast Digital Remittance Business Revenue Growth Rate
Figure Toast Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table OrbitRemit Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of OrbitRemit (2013-2018)
Figure OrbitRemit Digital Remittance Business Revenue Growth Rate
Figure OrbitRemit Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Smiles/Digital Wallet Corporation Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Smiles/Digital Wallet Corporation (2013-2018)
Figure Smiles/Digital Wallet Corporation Digital Remittance Business Revenue Growth Rate
Figure Smiles/Digital Wallet Corporation Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table Avenues India Pvt Ltd Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of Avenues India Pvt Ltd (2013-2018)
Figure Avenues India Pvt Ltd Digital Remittance Business Revenue Growth Rate
Figure Avenues India Pvt Ltd Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table FlyRemit Basic Information List
Table Digital Remittance Information
Table Digital Remittance Business Revenue of FlyRemit (2013-2018)
Figure FlyRemit Digital Remittance Business Revenue Growth Rate
Figure FlyRemit Digital Remittance Business Revenue Market Share (%) (2013-2018)
Table WeChat Payment Basic Information List
Table Digital Remittance Information
Table Ant Financial/Alipay Basic Information List
Table Digital Remittance Information
Table Global Digital Remittance Market Size by Product (2013-2018) (Million USD)
Table Global Digital Remittance Revenue Market Share (%) by Product (2013-2018)
Figure Global Digital Remittance Market Size Share by Product in 2017
Table Global Digital Remittance Market Size by Application (2013-2018) (Million USD)
Figure Global Digital Remittance Revenue Market Share (%) by Application (2013-2018)
Figure Global Digital Remittance Market Size Share by Application in 2017

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